K
Karak
Guest
My daughter is the named beneficiary on her uncles 401k and life insurance. The life insurance told me it the proceeds would be put in a trust until she was 18 and I don't know about the 401k yet. My question is if there is no will, who will become the trustee or custodian and will this need to go through probate to determine that. If not and there are just trusts set up throught the insurance co. and retirement plan is it possible to transfer these to another trust where we as her parents can put some restictions on the inheritance so she doesn't receive such a large sum of money at 18, which I feel is too young. Thanks for any advice. Still so confused as this is unchartered territory.
Kara
Kara